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Consumer sentiment toward the overall economy and technology spending both decreased in May, according to the Consumer Technology Association (CTA)™ Indexes.

Technology Spending
The CTA Index of Consumer Technology Expectations (ICTE), which measures consumer expectations about technology spending, decreased 6.4 points in May to 83.1, but remains 5.6 points higher on a year-over-year basis from May 2016.

“Sentiment around tech spending declined in May, but remains much higher than a year ago,” said Shawn DuBravac, Ph.D., chief economist, CTA. “As we see recently announced products in emerging categories come to market, especially in the digital assistant device space, we may see consumer enthusiasm around tech spending increase in the coming months.”

Overall Economy
The CTA Index of Consumer Expectations (ICE), measuring consumer sentiment about the U.S. economy as a whole, decreased in May by 4.3 points to reach 180.9.

“Sentiment on the economy declined in May and remains roughly flat from a year ago,” said DuBravac. “Individuals are showing optimism around the current job market but longer term expectations about the health of the economy is slipping.”

The CTA Indexes are updated on a monthly basis through consumer surveys. New data is released on the fourth Tuesday of each month. Find current and past indexes, charts and methodology on CTA Indexes.